How Secure Is CoolWallet?
Extremely secure. We apply every known security technique to ensure your device’s integrity and the safety of your funds. Unlike USB hardware wallets that are prone to phishing attacks and supply-chain attacks (tampering that takes place before it gets to you), we employ a multi-layered security process as well as anti-tampering technology as follows:
Your private key is stored safely in a CCEAL5+/6+ certified S.E. Chipset which is equivalent to FIPS complied security level, similar to the US military’s requirements, and the private key never leaves the CoolWallet. This chip calculates all the necessary algorithms and transmits only the calculated results (non-sensitive data) out to the phone via Bluetooth.
The Bluetooth connection can only be initialized when the wallet is turned on within a proximity of 10 meters. The design of our product uses AES256 Encryption to communicate between a CoolWallet and your phone along with a dedicated pairing passcode. Thus, any unauthorized devices are prohibited to communicate with the card for data retrieval.
2+1 Factor Authentication
The CoolWallet and our app use a sequence of biometric verification steps as well as a visual check and a physical confirmation button push on the device itself to ensure that you are in control of your CoolWallet and that the transaction is indeed correct and valid.
CoolWallet uses a patented " Cold Compression" process which makes it impossible for hackers to install intercepting devices that can alter the transaction details. The CoolWallet is wafer-thin and there is no extra space on its circuit board. With an adhesive layer that cannot be removed (even with a heat gun - the Wallet.Fail team tried) without visual damage, any alteration or tampering will be immediately visible on the CoolWallet. In any case, the Secure Element will still protect your private keys.